Answered: Which time-series component is said to…

Which time-series component is said to fluctuate around the long-term and is fairly irregular in appearance? A ) Trend B) Cyclical C) Seasonal D) Irregular E ) None of These

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.3: Simple Regression Models

Problem 5P: Management of a home appliance store wants to understand the growth pattern of the monthly sales of...

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Concept explainers

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.

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Which time-series component is said to fluctuate around the long-term and is fairly irregular in appearance? A ) Trend B) Cyclical C) Seasonal D) Irregular E ) None of These

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